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Prepared by StratagemTRADE.com and Scott
Writing under the nom de plume of J.L. LORD

Wednesday | March 25, 2020

Hello Eizell.

YESTERDAY'S CLOSING PRICES

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YESTERDAY: March 24

What it all comes down to
Is that everything's gonna be fine, fine, fine
'Cause I've got one hand in my pocket
And the other one is giving a high five

—Alanis Morissette

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Above you see what I wrote in Monday's report before the market closed down 580 Dow points. LOL. How was I suppose to know that the democrats in Congress were going to stick windmills and solar power into the bill, thus blowing it up?

I KNOW...I should have guessed. Like the frog and scorpion, they can't help themselves.

Yesterday, I was redeemed as the 580 point sell-off was nothing compared to the 2112 point gain we had. We opened up 1,100 points and kept running. WHY?

TWO REASONS

First – it looked like the $2 trillion stimulus plan was going to pass. We heard they were on the 2-yard line.

Second – I mentioned in the previous morning report that there is a cocktail of medications that has been around forever that seems to stop the virus.

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The Dow had the largest point run higher in history. Not since 1933 has it moved up this much on percentage terms (11.37%). The SPX closed up 9.38%. Beaten down travel stocks went nuts.

BA was higher by 20.89%, closing up 22.06 at 127.68.

AAL – American Airlines closed up 35.8% at 13.92.

Delta – (DAL) closed up 21.02% at 26.89 (higher by 4.67).

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TODAY: March 25

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HARD TO SAY

NIGHT SESSION

The market ran up yesterday on expectations that a deal was going to be done by the end of the day. Both parties were saying it was VERY close.

Well, the scorpion stung again. Not content leaving a coronavirus bill to subsidize only the things pertaining to the coronavirus, the Congressional Majority Leader (wont mention HER name – lol) had to sneak in provisions for the Kennedy Center for the Performing Arts and abortion funding.

I am not sure how the show HAMILTON will stop the virus or get American's back to work. I guess that is why I am not smart enough to go from bartender in the Bronx to a expert on global warming in the first three weeks of being in Congress. I am far from that level of brilliance, so I sit at home wondering how they get re-elected when they F-around during a national emergency. They play games when the people who voted them in lose their jobs.

Once this was noticed, the MINIS started to fall in the middle of the night with them down -48 at the time of this writing. The Dow futures are down -300 and the Nasdaq futures are down 165.

THAT DOES NOT MEAN we will close down.

S&P 500 Price Limits

From 8:30 a.m. to 2:25 p.m. CST, there are successive price limits corresponding to 7%, 13%, and 20% declines below the previous trading day’s reference price.

From 2:25 p.m. until the 3:00 p.m. CST close of the cash equity market, only the 20% price limit will be applicable.

You’re braver than you believe, stronger than you seem and smarter than you think”.
—Christopher Robin, Winnie the Pooh

2020 ONE-YEAR PREDICTION:
Average year with lots of inter42mittent volatility
(-24.25% so far)

POT Logo


I hope the new people enjoyed the long delta RR example from the previous (Monday) night that was flipped over on yesterday's (Tuesday) close. A 2,000 Dow point leg always makes a nice graph.

CLASS TONIGHT.

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DISCUSSION BOARD

Up and Running for POT students (so far).

Really quickly...

To help in your quest for the best possible options trading outcomes, we would like to know what level of options trading knowledge and skills you currently have. Please click the button below to indicate what level of trader you are? Please skip if you already responded. Thank you for participating.

P.O.T. Schedule to come.

LAUGH OF THE DAY

Trading is a tough job on a stomach void of coffee and humor.
You provide the coffee and we will take care of the rest.

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